January 2015 | Outsourcing Blog | BPO Industry Updates and Articles

Maximizing Social Media Budgets

A lot of businesses face the most common pitfall of jumping on the social media bandwagon without having an overall strategy, consequently putting their budget to waste. Now that social media has proven to be not just a passing trend but a marketing necessity, it is imperative that brands familiarize themselves with the key components of social media marketing.

Inc. has provided these tips for small businesses that aim to get the most out of their social media budget and not end up spending so much for little ROI.

Set a clear goal.As a business owner, you should already have a target in mind before investing on social media advertising. Don’t make the mistake of spending thousands on targeted posts and pay-per-click (PPC) advertising without the experience and a good campaign. For starters, you can put your budget to good use by hiring an expert to take over your social media.

Choose the right voice.Make sure the social media expert knows your industry, should you decide to hire one. To find the right social media manager for your brand, you can follow campaigns of other companies and monitor people whose style and online voice you like. Go for someone whose online tone is right for your brand.

Adjust to the channel.Companies in the fashion and food industries are natural fits for Instagram, while B2B companies get more out of LinkedIn. Different social media platforms need different strategies. While videos and images work well on Facebook, how you post on Twitter is different, where catchy text and hashtags are the ones that give you an advantage. As marketing consultant Audrey Christie McLaughlin’s perfect analogy goes, “Copying your Facebook posts directly to Twitter is like going to Dallas and barking French at everyone.”

Seize every opportunity.Unless you have connections with big names in the industry and a sky-high budget, you don’t always get somebody famous to feature your products or services. So when they do of their own accord, pounce on the opportunity to retweet or share it as a sponsored post and target your audience. The best part would be spending as little as $75 to reach thousands of fans and for a successful click-through rate.

Social media has evolved into something business executives simply scoffed at to a marketing strategy necessity. We’d even go so far as to say social media has become the core of marketing these days, what with 72% (and rising) of your target audience being online and social media advertising being comparatively inexpensive.

When it comes to social media marketing, big, multinational businesses aren't the only ones with the upper hand. Small businesses can easily take advantage of how social media platforms are used to connect with current and potential customers.

Social media marketing tips for your business

Here are four social media management factors needed to get your small business going in the right direction:

OrganizationIf you want to stay ahead with your social media management, proper organization is key. You don’t have to spend an entire day signing into each of your social media accounts individually. There are a number of online tools available for you (like Hootsuite and Buffer) to manage all of your social media accounts and keep track of everything - all in one dashboard.

ContentA content calendar ensures that you are making updates frequently. Use it to set up what days you are going to update your content and what topics you are going to cover. Make sure you are creating content that is timely and relevant. You can start by outlining the year and highlighting main events, holidays, and seasons. Focus on one quarter at a time and identify a monthly theme or topics to discuss. And then break down each month with your thematic or topic idea by identifying what types of posts you can create around it: text, video, visuals, related quotes, polls, questions, etc.

CollaborationThe content you post to the internet should be as diverse as possible. Have a social media team on your side to help you along - when you are sick, on vacation, busy with more pressing matters of the business, or simply have writer’s block. Your social media team can be made up of other co-workers, employees, and you can even outsource to a third party writer to create content for you.

TimeThe more present you are on social media, the more success you will see from it. Reserve a few hours a month to plan out and schedule content, then set aside at least 10 minutes each day to check in on your social media accounts.

What's great about social media is that it doesn't have down time - it's ongoing and can be used any time of day or night. Take control of your social media accounts with good management techniques so you can utilize them to their optimum potential. What's more, proper management lets you spend as little amount of time on social media as you can while still reaping the benefits.

Using Images to Bolster Social Media and PR Content

In the age of social media where we are dealing with shortened attention spans, marketers are vying to have their content noticed against a sea of options. The use of pictures in marketing has become the primary force online. Images bring out emotions, and the right picture has a powerful pull on us.

If you haven’t considered how images on the web can strengthen your content strategy and contribute to your bottom line, here are four reasons why you should include them in your content marketing efforts:

1. Photos get more traffic.Not only do articles with images get 94% more views than those that don’t, they also receive more blog comments and reader engagement. Images that are appropriately tagged and optimized can also help drive traffic and new audiences to your brand through search.

2. Visual storytelling strengthens your brand.People want candid and compelling narratives. Establish authenticity and form a connection with your viewers by using photos that represent the ideals, people, and experiences behind your brand. The fact that the brain processes visuals 60,000 times faster than text makes it easier to compete with other sources of information and takes you less time to build trust.

3. Images convince journalists to cover your story.It’s rare for newspapers, magazines, and blogs to run features without images. Photos save the journalist time and show credibility. It is, however, important to note that many journalists prefer not to receive unsolicited photo attachments via email. It would be wise to pitch first then let the journalist know that you have photos available via shared drive or request.

4. Images motivate your audience to act.If you’re looking to build loyalty or convert customers, include visuals in your presentations. This is effective in driving an audience toward your desired course of action.

According to the Information Services Group (ISG), the global outsourcing industry posted an annual contract value of $5.8 billion in the fourth quarter of 2014, a 27-percent increase compared to 2013's ACV. This double-digit growth made a great ending to one of the best years for outsourcing and was driven by a buyer's market in the Americas, as well as an increase in mega relationships and deal restructuring.

Based on the ISG Outsourcing Index that covers outsourcing deals with ACV of $5 million or more, the number of contracts also increased by six percent. In 2014, the total ACV was up by 16 percent with $23.1 billion, and the number of contracts reached 1,218.

Outsourcing industry double-digit growth

ISG partner and President John Keppel said the double-digit growth was seen through all regions, but was particularly strong in the Americas. Clients took advantage of getting more services at lower costs. They also looked for more flexible deals and lower unit costs.

Information technology outsourcing (ITO) ended 2014 with $17.3 billion, a 19-percent growth for the year and 13 percent for the fourth quarter. On the other hand, business process outsourcing (BPO) posted a strong 4Q to end the year with $5.8 billion. Financial services posted an all-time high with an ACV of $2.1 billion.

EMEA, considered as the largest outsourcing market in the world, had a 19-percent increase in ACV in the last quarter and seven percent in 2014, closing out the year with $11.9 billion. As for Asia-Pacific, it posted a 21-percent increase in ACV in the fourth quarter, and the number of contracts grew by 11 percent.

ISG expects strong activity this year, though it is predicted that the first half will be flat compared to the strong first half of last year. According to Keppel, with digitization and strong growth expected in applications, the industry has huge growth potential.

IT Outsourcing Forecast

A post at NetworkAsia.net indicated the recent findings and predictions of CIO.com on the global outsourcing industry. It includes the forecasts of outsourcing onlookers and industry specialists who believe that the IT outsourcing industry will be more business-centric, decision-making processes will be largely anchored on results, and RFPs are restructured, as customers become more open to standardization and changes.

1. Results will be the backbone of everything.Decisions, strategies, and even pricing will be based on the results that the buyer wants for his/her company, which largely involve an outcomes-based pricing. More market-facing process solutions for marketing, campaign management, and inside sales will be seen this year as providers are aiming to align compensations and incentives with the overall strategy of a campaign.

2. Autonomics and cloud technology will merge.This year, the cloud will be reinforced as autonomics, also known as “smart bots”. These will pave the way for the ‘labor-as-a-service’ approach. Buyers, as well as providers, see this opportunity since it can be easily hosted on cloud platforms, and can be flexible.

3. First came the cloud, everything else followed.Since everyone is getting more acquainted with cloud technology, people are starting to realize its benefits such as virtualization, increased efficiency, reduced support costs. With the convergence of utility computing and virtualization, a new IT outsourcing operating model will soon level out the playing field once again.

4. Companies will renegotiate deals.As more companies want IT processes to be standardized, they will look for several options involving cloud brokerage software that can enable them to understand analytics and automation better.

5. Buyers will pay more attention to IT supplier risk.Buyers will be seen preparing for risks in advance since they are trying to avoid unnecessary slowdown in operations. In fact, some are making simulations of what could possibly go wrong with their IT suppliers so they will be equipped should mishaps happen in the future.

6. Multi-sourcing amongst buyers will increase.Software-as-a-Service will grow - creating a domino effect in the type of deals buyers and providers will encounter. Multi-sourcing will become more commoditized which will result to more renegotiations and an augmented governance requirements. For renegotiations, decisions will be widely based on integration - how cloud is applied to the process and the entire organization.

7. IT services will surpass trendy tech gadgets.Buyers will look beyond hot ticket items that can be supplemented to their current IT structure. Instead, they will be more eager to see what services can help further their operations. 8. RFPs will be a thing of the past.Since technology is a fast-paced element, RFPs will just weigh the process down instead of expediting it. Anything can change with a blink of an eye, and having to wait for a proposal just won’t do. Every day, the story is bound to change in the world of IT, and it certainly won’t stop a provider to present their offerings, or a client to make a decision.

9. Cloud will be more comprehensible.Companies will be more careful when purchasing cloud-provided infrastructure and solutions since the trial and testing period is over. They are now more confident in making cloud decisions because more information and feedback have been released since it gained traction last year.

10. Analytics will lead sourcing operations and strategies.Sourcing will become a challenge to organizations since everyone is looking for the next best opportunity. This is where a deeper dive into analytics will come in handy because companies will have the necessary data to make the next move. In addition to that, enterprises will look for better deals that are clear as day so that the integration of management processes and multi-sourced operations will be done properly.

Tips for Creating Shareable Content

This year, PR professionals are dedicated to creating more content, whether they are blog posts, press releases, white papers, or social media updates.

For more effective and shareable content, make sure you have these items covered.

1. Do you know your audience?Your content won’t have an impact if you can’t appeal to your target audience. Learn about the behavior of the people you want to reach. Choose topics that cover their interests and that speak to their demographics.

2. Are you using an editorial calendar?Not only does an editorial calendar help you avoid writer’s block and repeating themes, it also instills a publishing frequency. Produce content regularly and your audience will keep coming back.

3. Is your content SEO-friendly?If you want people to find your content organically in search, using keywords and clear headlines will help. SEO-friendly content is more shareable on the social web.

4. Does your content include a call to action?It doesn't matter whether you’re asking your followers to leave a comment or enter a contest, as long as you are engaging your audience. Make sure you have an idea of where you’d like to funnel your readers for your content to serve your business objectives.

5. Have you proofread your content?Delivering flawless content is important. Make sure your stories are free of errors so that people will see your content as reputable, thereby increasing chances of them sharing it across their networks.

According to US-based JSH&A Communications, last year’s biggest challenges faced by chief management officers were creating fresh, timely content, followed by reaching consumers across digital channels, finding a steady stream of relevant content, and using social media for content marketing.

Social media marketing trends to take place in 2015

Here are the top marketing trends predicted to take place this year within the social media industry.

Real-time marketing redefinedInstead of real time, marketers will now focus more on right time. This means that the priority will be less about having a swift response at the ready, and more about sharing the right content with the right audience at the right time.

Increased social media ad spendingThere will be a shift to an always-on paid social strategy, what with Facebook’s ever-changing algorithms forcing marketers to opt for boosting their posts to ensure their content reaches their fans.

Growth of content marketingContent creation and budgets are on the rise. Marketers will be placing greater emphasis on measuring ROI and the effectiveness of their content.

Video optimizationVideo isn't just about YouTube anymore. Last year, Facebook beat YouTube in terms of desktop video views for the first time - delivering nearly a billion more views. Marketers need to identify how video can work across their social channels and not stick to a one-size-fits-all solution.

The takeover of the visual webBrands with the Facebook-first approach need to think twice, because Facebook is no longer king of engagement. In just two years, post engagement on Instagram went up 416%. Pinterest, Tumblr, and Instagram each gained more than 10M visitors in 2014. As the social media landscape continues to break and niche social networks appear, marketers need to accept that Facebook will not always be the most impactful or effective channel to build a social presence and engage with fans.

2014 saw a rise in content marketing, whereas 2015 will focus more on sharing the right content with the right audience at the right time, the communications agency states in its most recent infographic. Marketers will head towards a pay-only strategy to ensure content is reaching their target audience.